On 08.09.2013, the State of São Paulo published Decree No. 59,413, which modifies provisions concerning Special ICMS Term-Payment Program – PEP.

This Decree provides that the payment of tax debts originated from customs clearance of an imported product, when used for commercialization or manufacture, or the tax to be collected under the tax substitution regime, which should be made in one installment, can now be made in up to 120 monthly installments.

(State Decree/SP No. 59,413, 08.08.2013, Official Gazette of 08.09.2013. Available at: http://info.fazenda.sp.gov.br/NXT/gateway.dll?f=templates&fn=default.htm&vid=sefaz_tributaria:vtribut . Accessed in August, 2013).